$35.38

-0.37 (-1.03%)

Pre-Market: $36.25 (+0.87, +2.46%)

Weekly Expected Move ±3.5%

$33 $34 $35 $37 $38

NASDAQ · Real Estate · REIT - Industrial · Tech Score Neutral · Power 54 · $8.1B mcap · 71M float · 1.38% daily turnover · Short 61% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: none of note held by US funds details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Revenue Segmentation

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$5.4B +0.3% ▲

4Y CAGR: +9.7%

Gross Profit

$826M -53.1% ▼

4Y CAGR: -7.5%

Operating Income

$252M -30.2% ▼

4Y CAGR: +30.2%

Net Income

-$98M +85.2% ▲

EPS (Diluted)

$-0.43 +88.4% ▲

EBITDA

$1.0B +91.6% ▲

4Y CAGR: +13.4%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$3.7B	$4.9B	$5.3B	$5.3B	$5.4B
YoY Growth	+0.0%	+33.1%	+8.4%	-0.0%	+0.3%
Cost of Revenue	$2.6B	$3.5B	$3.6B	$3.6B	$4.5B
Gross Profit	$1.1B	$1.5B	$1.8B	$1.8B	$826M
Gross Margin	30.5%	29.5%	32.8%	33.0%	15.4%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$289M	$399M	$502M	$539M	$574M
Operating Expenses	$1.0B	$1.8B	$2.1B	$1.4B	$574M
Operating Income	$88M	-$297M	-$398M	$361M	$252M
Operating Margin	2.4%	-6.0%	-7.5%	6.8%	4.7%
Interest Expense	$235M	$388M	$588M	$539M	$268M
Income Before Tax	-$206M	-$70M	-$110M	-$840M	-$115M
Tax Expense	-$29M	$6M	-$14M	-$89M	-$2M
Net Income	-$153M	-$63M	-$77M	-$664M	-$98M
Net Margin	-4.1%	-1.3%	-1.4%	-12.4%	-1.8%
EPS (Diluted)	$-0.73	$-0.30	$-0.37	$-3.70	$-0.43
EBITDA	$633M	$976M	$1.2B	$547M	$1.0B
Shares Outstanding	211M	211M	210M	191M	228M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$1.3B	$1.3B	$1.3B	$1.4B	$1.4B	$1.3B	$1.3B	$1.4B
Cost of Revenue	$897M	$906M	$876M	$920M	$932M	$1.8B	$1.1B	$936M
Gross Profit	$438M	$433M	$416M	$430M	$445M	-$465M	$184M	$425M
Gross Margin	32.8%	32.3%	32.2%	31.9%	32.3%	-34.8%	14.2%	31.2%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$143M	$145M	$154M	$143M	$145M	$132M	$141M	$138M
Operating Expenses	$953M	-$268M	$360M	$407M	$410M	-$603M	$141M	$371M
Operating Income	-$515M	$701M	$56M	$23M	$35M	$138M	$43M	$54M
Operating Margin	-38.6%	52.4%	4.3%	1.7%	2.5%	10.3%	3.3%	4.0%
Interest Expense	$115M	$85M	$81M	$88M	$89M	$358M	$88M	$87M
Income Before Tax	-$588M	-$121M	$8M	-$14M	-$101M	-$8M	-$47M	-$33M
Tax Expense	-$45M	-$41M	$8M	-$7M	$11M	-$14M	$4M	-$1M
Net Income	-$485M	-$71M	$0	-$6M	-$100M	$6M	-$46M	-$29M
Net Margin	-36.3%	-5.3%	0.0%	-0.4%	-7.3%	0.4%	-3.5%	-2.1%
EPS (Diluted)	$-2.31	$-0.31	$0.01	$-0.03	$-0.44	$0.03	$-0.18	$-0.13
EBITDA	-$270M	$196M	$298M	$292M	$213M	$579M	$274M	$291M
Shares Outstanding	210M	228M	228M	229M	228M	228M	227M	228M

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